The Diplomat
The Council of Ministers authorized this Tuesday the granting of a $35 million loan (almost €28 million) to the Fundación Génesis Empresarial of Guatemala (FGE), an entity dedicated to the financial inclusion of micro and small businesses in this Central American country.
The Fundación Génesis Empresarial, established in 1997, has a network of 3,207 payment points and 4,232 non-bank correspondents, allowing it to expand its financial and training services, primarily benefiting rural areas and promoting sustainable development and environmental sustainability.
“The FGE demonstrates an excellent level in all areas of social performance,” according to the Council of Ministers. In this regard, initiatives in environmental performance management stand out, such as carbon footprint measurement, identification of clients with potential environmental impact, and efforts to mitigate environmental risks.
This loan, granted by Spain through the Fund for the Promotion of Development (FONPRODE), would support the livelihood of more than 70,000 jobs.
